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Nürburgring in Germany hosted the British GT Championship in May. Photo by LAT Photographic

Report says Ecclestone shows interest in taking control of Nürburgring

July 26, 2012

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Formula 1 racing boss Bernie Ecclestone has expressed an interest in purchasing the operating company of the Nürburgring from administrators, according to a report in Germany.

As expected, Nürburging Automotive Gmb formally filed bankruptcy papers following disastrous financial results since 2009, when it borrowed heavily to finance the development of a range of non-motorsport leisure facilities at the historic site. An entertainment complex, a retail mall and a hotel have been much less popular with the public than anticipated, and the state-owned company has been unable to service its debts. It is now in administration despite claiming last week that it had “reached agreement with Formula One chief Ecclestone on a project to guarantee the future of Formula One racing on the Nürburgring”.

The administrators have now stated that their ultimate aim is to sell the company into the private sector and, according to the local ‘’ newspaper, Rheinphalz, Ecclestone is a potential buyer. The newspaper says that, contrary to the impression given by the Nürburgring statement, Eccleston has made no offer for his Formula One group to promote the German Grand Prix there at its own risk. Instead, it reports, he was in talks with a view to buying the company, which owns the lease on the venue and the associated infrastructure.

Race circuits are not prominent in Ecclestone’s expansive property portfolio although, back in 1999, his Excelsis company bought the Paul Ricard track at Le Castellet, in the south of France, on the death of its founder. Excelsis redeveloped the venue as an advanced test facility, but it is currently in the frame once more to host the French Grand Prix.